FATF Recommendation 16
FATF Recommendation 16 (Revised) — the "Travel Rule" — sets the information that must accompany wire transfers above EUR/USD 1,000: the originator’s name and full address, and the beneficiary’s name with at minimum Town Name and Country. Industry guidance is expected end-2026, with full implementation due by end-2030.
How FATF Recommendation 16 works in practice
The two-stage timeline follows the SR 2026 cutover and the CPMI’s end-2027 harmonisation target, giving institutions a continuous runway. The data model behind it is identifier-neutral — LEI, BIC and national identifiers are all recognised — and in the EU the requirements are carried into law by Regulation (EU) 2023/1113.
Source: CPMI harmonised ISO 20022 data requirements §17 footnote / p18-6; §0.80 / R10 / p19-5; the ioNova Postal Address Specification v2.0 §10.2 (Table 22), §10.5.
Parent reference: ISO 20022 structured address mandate.
Sources
Standards & regulatory sources
- Harmonised ISO 20022 data requirements for enhancing cross-border payments — updated report — BIS Committee on Payments and Market Infrastructures (CPMI), 26 February 2026.
- Regulation (EU) 2023/1113 on information accompanying transfers of funds — European Union, 31 May 2023.
ioNova reference material
- ioNova ISO 20022 Postal Address — Requirements and Specifications v2.0, May 2026 — ioNova reference work consolidating the sources above. Request the specification in a demo.
See ioNova ARS in action
The complete ISO 20022 Postal Address — Requirements and Specifications Update 2026 consolidates the CPMI harmonisation requirements, the BIS PIE taskforce report, the PMPG Hybrid Postal Address whitepaper and the EPC address guidance into a single reference.
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